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Olo Inc. (NYSE: OLO) is a prominent player in the digital ordering landscape, catering to the restaurant industry with its innovative Software as a Service (SaaS) platform. The company empowers restaurant brands by offering an enterprise-grade ordering solution that enables digital commerce operations. This platform integrates seamlessly with existing systems, creating new digital revenue streams while enhancing the overall dining experience.
Founded in 2005, Olo started as a pioneer in text message ordering on mobile feature phones. Today, the company boasts over 15 million users who leverage its platform to order ahead and skip the line® at their favorite restaurants. Some of Olo's notable clients include Baskin-Robbins, Chipotle, Five Guys, Jamba Juice, Noodles & Company, Veggie Grill, and Wingstop.
Olo's platform encompasses a comprehensive suite of functionalities, including digital ordering, delivery, front-of-house management, and payments, thereby strengthening direct guest relationships for its restaurant partners. The company's core mission is to help restaurant brands maximize revenue per square foot by delivering faster, more accurate, and personal service to their customers through beautiful, fully branded digital interfaces.
Recent achievements highlight Olo's commitment to innovation and growth. The company recently announced a settlement in a class action lawsuit, securing $9 million to benefit affected class members. This development underscores the company's legal resilience and dedication to shareholder interests.
Olo continues to innovate and expand its service offerings, supported by a robust financial condition. The company's ability to adapt and thrive in a competitive market makes it a significant entity in the restaurant technology space. To stay updated with the latest news and developments from Olo Inc., visit their official website or follow their announcements.
Cartwheel, a delivery management platform, has raised $3 million in seed funding led by Moonshots Capital. This capital will enhance product development, partner integrations, and company expansion. Over the past year, Cartwheel has tripled its customer base, now serving over 8,000 establishments, including top brands like Portillo's and P.F. Chang's. The platform offers a Hybrid Delivery model allowing businesses to manage in-house and outsourced deliveries efficiently. Cartwheel's solutions are designed to optimize delivery management, making it a leader in its field.
Olo Inc. (NYSE: OLO) will announce its first quarter fiscal year 2022 financial results on May 10, 2022, after U.S. markets close. The company will hold a conference call at 5:00 p.m. Eastern Time the same day to discuss the results and provide financial guidance. Olo is recognized for its on-demand commerce platform facilitating the digital transformation of the restaurant industry, supporting over 500 restaurant brands and integrating with over 300 technology partners.
SOCi and Olo have entered a strategic partnership to enhance digital menu management and localized data solutions for the restaurant industry. This collaboration will integrate Olo's API with SOCi, enabling restaurant brands to manage vital location data across multiple directories from a single platform. Updates to critical information, such as name, address, and phone number, will be streamlined, enhancing visibility on platforms like Google and Yelp. This partnership aims to simplify workflows for multi-location restaurants, providing insights that can improve marketing strategies.
Olo (NYSE: OLO) has appointed David Cancel to its Board of Directors effective March 25, 2022. Cancel, co-founder and CEO of Drift, brings over 25 years of experience in enterprise SaaS and product innovation. His appointment is expected to enhance Olo's strategic product development amidst the restaurant industry's digital transformation. Concurrently, James D. Robinson IV, a board member since March 2008, is stepping down, having contributed significantly to Olo's growth and public transition.
Olo (NYSE: OLO) announces integration with Radar, a geofencing technology platform, aimed at enhancing digital order fulfillment in the restaurant industry. The new partnership will facilitate trip tracking, minimizing pick-up and delivery wait times and improving kitchen operations. CEO Noah Glass emphasizes the importance of enhancing the off-premise experience to stay competitive. CKE Restaurants highlights its strategic focus on customer experience through Olo and Radar's integrated solutions. This collaboration positions Olo to better serve marquee brands and elevate consumer satisfaction.
Olo (NYSE: OLO) has unveiled Olo Pay, a cutting-edge payment platform designed to enhance the restaurant industry's digital transformation. This integrated solution offers restaurants a seamless payment experience, supports mobile wallets, and improves fraud prevention while boosting authorization rates for valid transactions.
With capabilities such as borderless payments, Olo aims to simplify the checkout process for consumers, increasing conversion rates and restaurant profitability. Olo's infrastructure enables over 500 restaurant brands to optimize digital sales, ultimately driving growth and securing customer relationships.
Olo Inc. reported a 52% increase in full-year revenue to $149.4 million for 2021, driven by strong growth in active locations and module adoption. The fourth-quarter revenue reached $40.0 million, up 31% year-over-year. Notably, gross profit for the quarter was $31.5 million, representing 79% of total revenue. Despite a $6.8 million operating loss, Olo ended 2021 with $514.4 million in cash. The company also announced plans to acquire Omnivore Technologies to enhance its platform capabilities.
Olo Inc. (NYSE: OLO), a prominent on-demand commerce platform for the restaurant industry, will release its fourth quarter and fiscal year 2021 financial results on February 23, 2022, after U.S. market close. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss financial results and guidance. Olo supports over 500 restaurant brands and processes millions of orders daily, enhancing the digital sales landscape while integrating with over 100 technology partners.
Olo Inc. (NYSE: OLO) has announced the promotion of Nithya B. Das to Chief Operating Officer and Chief Legal Officer, effective immediately. Ms. Das, a seasoned executive with over 15 years of experience, previously served as Chief Legal Officer. She will oversee additional corporate and technology functions. Meanwhile, Matthew Tucker, the current President and COO, will retire on March 31, 2022, after contributing to the company’s growth and transition to a public entity. He will remain as an advisor through 2022.
Olo Inc. (NYSE:OLO) has announced that its Founder and CEO, Noah Glass, along with CFO, Peter Benevides, will present at two upcoming investor conferences. The first is the ICR Conference on January 10, 2022, at 1:00 p.m. ET, followed by the Needham Virtual Growth Conference on January 11, 2022, at 4:15 p.m. ET. Both presentations will be webcast live, with replays available on Olo's investor relations website. Olo is a leading on-demand commerce platform focused on transforming the restaurant industry digitally.
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